Search TradeWinds

LOG IN TO TRADEWINDS

Log in or start a trial to access this article

Succession rings changes at Steamship Mutual

The top management of Steamship Mutual Underwriting Association is changing as part of its succession plan.

Gary Rynsard, who has steered the protection-and-indemnity (P&I) club through a period of large increases in tonnage and free reserve, is to step down as executive chairman of Steamship P&I Management in a year’s time. He will be replaced by managing director Stephen Martin.

Rynsard will be 67 at the time of the handover in February 2019, with Martin not far behind at 64.

Rynsard took the helm at Steamship Mutual a decade ago and has presided over a period that has seen tonnage double and the free reserve grow by an even larger amount.

The club, which insured owned and chartered fleet of some 75 million gt in 2009 and had a free reserve of about $220m, now has a fleet of 156 million gt and a free reserve of about $510m.

Like many top P&I club managers, Rynsard trained as a barrister and briefly fought criminal and family cases before joining Steamship Mutual as a freight, demurrage and defence claims handler.

Over his 40-year career with the club he moved to P&I claims, rose to be head of the claims department before becoming an underwriter and department head.

Martin is also a long-time Steamship Mutual manager who was previously chief operating officer and before that head of claims — so change at the top is unlikely to result in a radical shift in strategy.

Rynsard is not retiring from the management of Steamship Mutual after stepping down as chairman, but will focus on the establishment of the club’s new post-Brexit subsidiary in Rotterdam.

The changes at Steamship P&I Management are part of a wider management succession plan.

Head of syndicate and loss prevention Chris Adams is moving up to managing director, and Gary Field is to become underwriting chief next year.

Colin Williams is also retiring as claims chief from the 2019 renewal date, with this role set to be taken by Charles Brown, who is joining the management from law firm Reed Smith next month.

There are also more immediate changes with Steve Ward, retiring from the management operation at this year’s renewal, to be replaced as chief financial officer by Arjun Thawani.

Steamship Mutual’s statistics guru Tim Alfrey is joining the management team this month as head of statistics and IT services.

The revamp at Steamship Mutual is part of a generational change across P&I clubs that has yet to fully play out.

At the West of England Club, Tom Bowsher, 37, took over as chief executive from veteran Peter Spendlove, 62, last year.

The North of England Club has recently announced that joint managing director Alan Wilson, 62, will be stepping down from this role in May.

The move will leave 55-year-old Paul Jennings as the sole chief executive.

At the Britannia Club, Andrew Cutler, 51, took over as chief executive following changes arising from the retirement of top manager Grantley Berkeley in 2016.

Simon Swallow took over as chief executive of the Shipowners’ Club in 2015, following the retirement of Charles Hume.

At Skuld, Stale Hansen took over as chief executive from Douglas Jacobsohn in early 2015.

At Gard, Rolf Thore Roppestad took over as chief executive at the start of 2014, following the death of Claes Isacson.

Product packages starting from $94 per month

Get the latest and most important news of the day – sign up for free to the TradeWinds Daily News Update

Succession rings changes at Steamship Mutual

The top management of Steamship Mutual Underwriting Association is changing as part of its succession plan.

Gary Rynsard, who has steered the protection-and-indemnity (P&I) club through a period of large increases in tonnage and free reserve, is to step down as executive chairman of Steamship P&I Management in a year’s time. He will be replaced by managing director Stephen Martin.

Rynsard will be 67 at the time of the handover in February 2019, with Martin not far behind at 64.

Rynsard took the helm at Steamship Mutual a decade ago and has presided over a period that has seen tonnage double and the free reserve grow by an even larger amount.

The club, which insured owned and chartered fleet of some 75 million gt in 2009 and had a free reserve of about $220m, now has a fleet of 156 million gt and a free reserve of about $510m.

Like many top P&I club managers, Rynsard trained as a barrister and briefly fought criminal and family cases before joining Steamship Mutual as a freight, demurrage and defence claims handler.

Over his 40-year career with the club he moved to P&I claims, rose to be head of the claims department before becoming an underwriter and department head.

Martin is also a long-time Steamship Mutual manager who was previously chief operating officer and before that head of claims — so change at the top is unlikely to result in a radical shift in strategy.

Rynsard is not retiring from the management of Steamship Mutual after stepping down as chairman, but will focus on the establishment of the club’s new post-Brexit subsidiary in Rotterdam.

The changes at Steamship P&I Management are part of a wider management succession plan.

Head of syndicate and loss prevention Chris Adams is moving up to managing director, and Gary Field is to become underwriting chief next year.

Colin Williams is also retiring as claims chief from the 2019 renewal date, with this role set to be taken by Charles Brown, who is joining the management from law firm Reed Smith next month.

There are also more immediate changes with Steve Ward, retiring from the management operation at this year’s renewal, to be replaced as chief financial officer by Arjun Thawani.

Steamship Mutual’s statistics guru Tim Alfrey is joining the management team this month as head of statistics and IT services.

The revamp at Steamship Mutual is part of a generational change across P&I clubs that has yet to fully play out.

At the West of England Club, Tom Bowsher, 37, took over as chief executive from veteran Peter Spendlove, 62, last year.

The North of England Club has recently announced that joint managing director Alan Wilson, 62, will be stepping down from this role in May.

The move will leave 55-year-old Paul Jennings as the sole chief executive.

At the Britannia Club, Andrew Cutler, 51, took over as chief executive following changes arising from the retirement of top manager Grantley Berkeley in 2016.

Simon Swallow took over as chief executive of the Shipowners’ Club in 2015, following the retirement of Charles Hume.

At Skuld, Stale Hansen took over as chief executive from Douglas Jacobsohn in early 2015.

At Gard, Rolf Thore Roppestad took over as chief executive at the start of 2014, following the death of Claes Isacson.